General Cable Corporation (the "Company"), (NYSE:BGC), announced
today the completion of its cash tender offer (the "Offer") for its
9.5% Senior Notes due 2010 (the "Notes").
The Offer expired at 12:00 midnight, New York City time, on
Monday, April 2, 2007 (the "Expiration Time"), with approximately
$280.1 million in aggregate principal amount of the Notes tendered and
accepted for purchase, representing approximately 98% of the
outstanding Notes. An aggregate principal amount of approximately $4.9
million of Notes remain outstanding.
The approximately $280.0 million in aggregate principal amount of
the Notes which were validly tendered as of 5:00 p.m., New York City
time, on March 15, 2007 (the "Consent Expiration") were redeemed as of
March 21, 2007. After the Consent Expiration, an additional $0.1
million in aggregate principal amount of the Notes was validly
tendered as of the Expiration Time, which will be redeemed on or about
April 5, 2007.
Goldman, Sachs & Co. served as the sole dealer manager for the
Offer.
Certain statements in this press release, including without
limitation, statements regarding future financial results and
performance, plans and objectives, capital expenditures and the
Company's or management's beliefs, expectations or opinions, are
forward-looking statements. Actual results may differ materially from
those statements as a result of factors, risks and uncertainties over
which the Company has no control. Such factors are more fully
discussed in the Company's Report on Form 10-K filed with the
Securities and Exchange Commission on March 1, 2007, as well as any
current and periodic reports filed with the Commission. The Company
undertakes no obligation to release publicly the result of any
revisions to these forward-looking statements that may be made to
reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.